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Trendreversalpattern

📉 Descending Broadening Wedge Identified on $RAYHey traders! Today, I want to discuss an intriguing chart pattern I've identified on $RAY. Let's explore the descending broadening wedge and its implications for potential price action. 📊💡 Pattern: Descending Broadening Wedge 📉🔽 Symbol: FWB:RAY 💰 Overview: A descending broadening wedge is a significant chart pattern characterized by expanding price swings within converging trendlines. This pattern suggests increased volatility and the potential for a reversal. Let's dive into the descending broadening wedge pattern on FWB:RAY and assess its significance. ⚡💹 Key Features of the Descending Broadening Wedge on FWB:RAY : Expanding Price Swings: Observe the widening price swings within the converging trendlines, creating the broadening pattern. This indicates growing volatility and potential market dynamics shift. 📈📉 Reversal Potential: Descending broadening wedges are often seen as reversal patterns, indicating a possible trend change. Monitor price action for confirmation. 🚀📈 Trading Strategy: Entry Point: Consider entering a position once FWB:RAY breaks out above the upper trendline of the descending broadening wedge. This breakout could signal a potential reversal and the start of an upward move. ⬆️💰 Stop-Loss: Implement a stop-loss order below the lower trendline to manage risk and protect against potential downside. ⛔️📉 Target Levels: Identify key resistance levels or previous swing highs as profit targets. Adjust your position size and take profits accordingly. 🎯📈 Risk Management: Maintain proper risk management techniques, including position sizing, setting stop-loss orders, and adhering to your trading plan. Be aware of the risks associated with trading cryptocurrencies like $RAY. ⚠️💼💡 Disclaimer: Trading cryptocurrencies carries risks, and it's essential to conduct thorough analysis and seek professional advice before making any investment decisions. #DescendingBroadeningWedge #RAY #Cryptocurrency #TrendReversal #TradingStrategy #TechnicalAnalysis #Volatility #RiskManagement In conclusion, the descending broadening wedge pattern identified on FWB:RAY suggests a potential reversal in the making. However, wait for a confirmed breakout above the upper trendline before considering any trades. Stay tuned for further updates on $RAY! 💹🚀 (Note: This post is for informational purposes only and should not be considered as financial advice.) 💡💼📚
Long
by STP_MrNodeItAll
2
Will BTC Continue Catastropic Fall to $12k? Bears Ready for War!Bitcoin Bears are growing in number with each Bull failure to stay above the 30k price range, which they recovered on April 2023 after the November 2022 dump to the 15500 price range. This analysis uses Makaveli Trader's Pandora Box on multiple timeframes. The Daily chart MT www.tradingview.com clearly shows a strong bearish candle breaking and successfully closing below the resistance line which in the past during the bull run acted as a strong support line The Higher Timeframe Box on the Weekly Chart below It is worth noting that the major chart controlling this current bear market is the Monthly chart www.tradingview.com the strong ranges on the Monthly chart will make it difficult for the current breakout above range weekly to be sustainable. The current price range of 26k to 30k I stated here that is worth observing as This range holds a strong busy trading range in the past On the 4-hour chart, there's a short-term mini pull-up expected from 28400 to 28550 support back to the 29600 to 29800 resistance range after the current 29k support breakdown. However, the chances of buyers staying long above 30k are decreasing, and selling pressure is increasing as the market ranges below a strong resistance zone. A catastrophic fall could hit soon. The Daily chart shows a strong bearish candle breaking and closing below the support line. This bearish engulfing candle signals a next possible drop to 23800 down to the 22400 range, depending on the strength of the sellers. The Higher Timeframe Box on the Weekly Chart shows that the market has been on a ranged move since June 2022. For the first time in more than 8 months in March 2023, we see the BTC price rally above the range zone to the price of 30k. However, BTC is still clearly in a downtrend on the weekly chart, with no evidence of a clear trend reversal. The strong ranges on the Monthly chart will make it difficult for the current breakout above range on weekly sustainable for bulls to keep pushing up. The current price range of 26k to 30k is worth observing as this range holds a strong busy trading range in the past as it acted as a strong support while BTC was in a primary bull run and is likely to play a major role in resuming the Primary Bear trend. According to the EPIC Short on the Monthly chart, the bear trend resumes in May June 2023, calling for a leg-down move to HKEX:12800 from this current Bull exhaustion price range. However, there will be mini secondary trends (pull-ups) along the way, which takes us to the Daily Chart My Trade road map: SHORT-TERM LONG SETUPS: 📈 FREE MT TRADE SIGNAL 📈 👉 ASSET: CRYPTOCAP:BTC (BTC/USDT) 👉 ACTION: BUY 👉 1st ENTRY PRICE : $28698 3rd ENTRY PRICE : $28762 👉👉3rd ENTRY :$28850 STOP LOSS: HKEX:28398 👉 1st TP:$29800 UPCOMING EPIC SHORT SIGNAL: 📈FREE MT TRADE SIGNAL 📈 👉 ASSET: CRYPTOCAP:BTC (BTC/USDT) 👉 ACTION: SHORT 👉 1st ENTRY PRICE:  $29900 2nd ENTRY PRICE : $29600 3rd ENTRY PRICE : $29400 👉 STOP LOSS: $30590 👉 1st TAKE PROFIT: HKEX:26600 2nd TAKE PROFIT : $22800 3RD TAKE PROFIT : $19K EPIC TAKE PROFIT : HKEX:12400
Short
by MachiavelliTrader
6
Similarities between Trend Reversals and Driving a CarHappy New Year🎆, Traders👋 On this post, I'm going to share the similarities between trend reversals and driving a car. This post would help you if; -You are struggling with trend reversals -You tend to make early entries e.g. you stopped out and the market moves in your favorable way Driving cars For those who drive cars, these are obvious things, but let me just explain what you are gonna do when you turn the corner. Take a look at the left side of the image drawing below. When you make a turn, you; (1) Gradually slow down as you approach a corner (2) Turn the corner at the lowest speed (3) Accelerate as you exit the corner You do them naturally without thinking anything if you have a driver license. Now, let’s take a look at what is gonna happen when trends reverse. Trend reversals Look at the right side of the chart above. This illustrates when a downtrend reverses to an uptrend. (1) Price going down (2) Stop (3) Price going up (1) When a bear market or downtrend is in progress, prices keep going down, making lower highs and lower lows. At the beginning of the downtrend, it usually starts with a sharp slope, but as the prices go down, the speed also gets slow and it becomes a gentle decline. (2) When a downtrend comes to the end, it; -stops making lower lows -creates a equal low (aka W bottom) -make a slightly higher low(this is also another formation of W bottom) -becomes a range These are the signs when downtrends end. (3) After the market makes a stop at the bottom, uptrends starts, usually breaking a range and/or creating a new high. The speed of the trend gradually accelerates as if a car exits from a corner. It looks super simple, easy and obvious in writing, however, in reality, many beginner traders and/or traders who are struggling with trend reversals tend to buy at (1). Why? The reason is simple. They want the bottom. When greed dominates your emotion, these things do not exist in your brains anymore. You know what happens then? They got stopped out and the market moves as you expect. This is like you are approaching a corner without reducing speed and end up with falling off a cliff. Cars cannot immediately stop, neither do trends Just like cars cannot stop(or make a turn) suddenly, trends do not change that easily. You would be able to eliminate unnecessary entries and/or FOMO entries, simply asking these questions to yourself. “Isn’t it too late to buy at least when I see the market makes a stop?”
Education
by FX365_Thailand
EURUSD, 4-Hour, Possible correctionI consider a possible downtrend correnction or even a trend reversal on the Euro-USDollar pair. Price drew a good trend reversal pattern which cointains a false breakout of the trend line and then a new, lower low. But I think it is only a correction, not a reversal. The US Dollar's foundations are stronger than the Euro's. The scenario will be fulfilled if the price goes up slowly (as a sign of weakness) around mid-September and then goes strongly down breaking the last price lows. The signal of confirmation is the divergence of the RSI on the daily interval. The false broken trend line has been since Feb '22.
by MichaelFX_ICT
TREND REVERSAL - SHORT??With the news of a rapid decline in transactions on the crypto platform and the debate by the Federal Reserve on commodity costs and production price mark ups as the United States braces for a recession. We see the XAU market taking a position similar to last summer with the price ranges rallying between 1730 and 1825. Could this be the call sign for the bulls to own the market till the end of autumn or is this just a retest of the support price (1768.50) to soar into the 2000S price range?? TIP: WAIT FOR 1815 PRICE RANGE (SELL)
OANDA:XAUUSD
by Fidelachor
The infamous Trend Reversal Trade The Trend Reversal Trade, can it work? I have been trading the market for 10 years & the statistics in NOT in your favour, this type of trade has a low probability & trading is a game of stacking the probabilities in your favour. this is to be distinguished from investing; which is a whole different game. Back to the infamous Trend Reversal Trade. This is the trade where most average home managed investors loose their money. Lets put this into practice. Imagine following: A good name stock price is over selling or maybe crashing with over balanced selling right into a demand zone. like WEED in this example on a (W) chart. The investor buys a LNG position & thinking he purchased a Good company stock for a good price, isnt that what balance & income sheet based fundamental trading teaches. Now, all one have to do is wait for the trend to reverse price goes up & big profit. expect that a big pay off does not come, hope is mislead by a bounce in price due to the demand zone. before the prevailing trend continues its down fall beyond your ENTR price, the emotions kicks in & you are in the red profit zone.wtf.. I hope you had a stop loss in place. If you are following me those far, those trades are dangerous..learn from my many mistakes..Fuc*king Hope What was my mistake? expecting a DZ to reverse the dominant trend & while this does frequently happen, and it is how market is created. but the futility is in the assumption that you can gauge the top or the bottom before the trend changes. I learned to wait for the trend to change without me then i ride the new trend. much like surfing a wave. ride the wave & trade the trend.
TSX:WEEDLong
by greatful-me
2
KCE | Inverted Head & Shoulders | Trend reversal patternPrice action and chart pattern trading setup > Inverted head & shoulders trend reversal pattern > Support Neckline 1st entry at breakout and 2nd entry at pullback > 1st target at SMA50 as key resistance > 2nd target at SMA200 or volume profile point of control > Stoploss at near lowest inverted head position > risk ratio : 2:1 is recommended for medium term trade Indicators: > strong smart money and banker chip volume support > Fundflow rebounded for the first time coming out of oversold area > BBD positive signal uptrend above baseline > KDJ Sto positive ribbon uptrend Always trade with affordable risk and respect your stoploss
SET:KCELong
by dukeposh
ONGC- Price Action Analysis NSE:ONGC already has nearest to their supply zone (143 - 145) and has activated Harmonic BAT pattern with the level of 0.886. BUY : Buying only applicable if price will cross above 145 level and sustains to close on daily basis with high volumes and good momentum. SELL : If any rejection at 143 -145 , might activate Sellers for selling up to 128 -131 and breaking this zone creates tremendous sell off till 115. NOTE : Safe trader can buy above 145 or wait till if price comes at 128 -131 and creates reversal confirmation candle.
NSE:ONGCShort
by vraj8597
DXY - D1 - DOUBLE TOP IN PROGRESS !The Dollar Index (DXY) is showing a potential double top formation in progress on a daily chart. DAILY (D1) Ongoing downside price action, after having, yesterday, broken both the Tenkan-Sen and the Mid Bollinger Band, this morning the DXY is attempting to also breakout the Kijun-Sen which should be seen as the last important support level in that time frame. A failure to hold above it (95.96) would directly put the focus on lower levels, towards 95.51 which is the trigger level of the double top formation in progress and if broken would activate this reversal formation calling for a technical target @ 94.09 which is, currently, also the clouds bottom support area on this daily time frame. WEEKLY (W1) Still in an ongoing uptrend but lack of follow through, confirmed by several "dojis" in a row is likely to trigger a trend reversal! In addition, the 50 % Fibonacci retracement @ 96.10 has been filled but, so far, each upside continuation attempt has been rejected. In that weekly time frame, the next significant support is @ 95.11 and a failure to stay above it would be an additional warning signal, calling for further downside towards the double top technical target @ 94'09 above mentioned, which also coincides with the weekly cluster support level of MBB and KS. MONTHLY (M1) The DXY failed on the last monthly closing basis (in November) to upside breakout the clouds resistance area ! Therefore, December monthly closing should be watch at very carefully and that will give more clues for the upcoming months on a long term view. Finally, watch carefully price action on shorter intraday time frames which will help you to validate or invalidate my technical view. CONCLUSION : Only a sustainable recovery, on a daily basis closing observation, above the 97.00 area would force to a reassessment of my expected bearish scenario.
TVC:DXYShort
by Ironman8848